Sallie Mae, a US private student loan provider headquartered in Newark, Delaware, and Ipsos, a global market research and a consulting firm with worldwide headquarters in Paris, France, conducted a national survey of American undergraduate students and their families' attitudes towards college, how much they spent, and the sources they used to pay for it. Key findings: 

  • Scholarships and grants cover more of the cost than family contributions
    • Average percentage of  total cost paid from each source
      • 34% - Scholarships and grants
      • 29% - parent income and savings
      • 13% - student borrowing
      • 12% - student income and savings
      • 7% - parent borrowing
      • 5% - relatives and friends
  • 98% of students are taking steps to make college/university more affordable
    • 4 out of 5 students attending in-state institutions with lower costs
    • 1 out 3 are attending community college before moving on to a 4-year institution
    • 77% work part time
    • 62% cut down on personal spending
    • 49% are living at home
    • 27% are working toward earning their degrees faster
  • Cost ranks third when choosing a college/university
    • 31% academic program
    • 31% personal choice
    • 27% financial consideration
  • 90% of families expect their student to earn at least a bachelor's degree
    • 36% expect a bachelor's degree
    • 54% expect a graduate degree
    • 10% expect an associate's degree or certificate
  • 2 out of 5 families created a plan to pay for college
    • Parents who plan save 3.5 times more than non-planners
    • Students who plan borrow 1/3 less than non-planners